Golden State Wealth Management LLC Has $317,000 Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Golden State Wealth Management LLC grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 123.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,246 shares of the construction company's stock after purchasing an additional 689 shares during the period. Golden State Wealth Management LLC's holdings in Quanta Services were worth $317,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Spire Wealth Management increased its holdings in shares of Quanta Services by 13.7% in the 1st quarter. Spire Wealth Management now owns 35,506 shares of the construction company's stock worth $9,025,000 after acquiring an additional 4,290 shares during the period. Daymark Wealth Partners LLC increased its holdings in shares of Quanta Services by 390.1% in the 1st quarter. Daymark Wealth Partners LLC now owns 61,277 shares of the construction company's stock worth $15,575,000 after acquiring an additional 48,774 shares during the period. Archford Capital Strategies LLC increased its holdings in shares of Quanta Services by 188.7% in the 1st quarter. Archford Capital Strategies LLC now owns 3,092 shares of the construction company's stock worth $786,000 after acquiring an additional 2,021 shares during the period. Petros Family Wealth LLC increased its holdings in shares of Quanta Services by 24.2% in the 1st quarter. Petros Family Wealth LLC now owns 1,139 shares of the construction company's stock worth $290,000 after acquiring an additional 222 shares during the period. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Quanta Services by 5.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 84,751 shares of the construction company's stock worth $21,542,000 after acquiring an additional 4,300 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PWR shares. Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday. The Goldman Sachs Group restated a "buy" rating and set a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. UBS Group set a $413.00 price objective on shares of Quanta Services and gave the company a "buy" rating in a research report on Thursday, June 12th. DA Davidson raised their price objective on shares of Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Argus set a $375.00 price objective on shares of Quanta Services in a research report on Monday, May 5th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $349.65.

Quanta Services Stock Up 0.6%

Shares of NYSE PWR traded up $2.21 during mid-day trading on Friday, reaching $381.68. The company had a trading volume of 3,687,738 shares, compared to its average volume of 972,807. The stock has a fifty day moving average of $336.76 and a two-hundred day moving average of $307.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. The company has a market capitalization of $56.59 billion, a price-to-earnings ratio of 61.56, a PEG ratio of 2.95 and a beta of 1.07. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $382.79.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The firm's revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 earnings per share. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.10%. The ex-dividend date is Tuesday, July 1st. Quanta Services's payout ratio is presently 6.45%.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.